Sure, but one doesn't make any amount of money that is worth caring about even without factoring the diminishing returns over time in.
I hate to say it as I don't wanna be that guy but... Your a blabbering fucking idiot.
I noticed you didn't respond to the post before as you literally have no come back.
Fact. If you own a S9 you are making over $20+ a day and paying less than .11 in elec.
You have no basis for your claims, nor any reasonable argument why not to buy one.
Rather than fucking sit here all high and mighty and preach, how bout you show some real figures as to why not. True that.
Scrap'
I provided detailed reasoning several times. And it should be obvious to anyone with the most basic understandings of business structures.
But anyway, since you prefer insulting over turning on your brain, here's some hard data.
A single S9 unit costs around $3500 right now and draws 1400 Watts. At 10 cents per KWH and current Bitcoin prices that means a profit of just under $15 a day, which means 8 months of mining to break-even. And this is before the adjusting difficulty or any increase or decline in prices.
Now, since mining is a multi-billion dollar corporate endeavour these days, said corporations will rush to increase their hashrate as soon as they possibly can if the prices allow to do so. And since they are fucking billion-dollar corporations, they
will get better prices on hardware, thus further increasing their profitability by decreased costs. Hence, the hashrate will increase very rapidly whenever there is a significant increase in prices (which has happened literally every single time so far in the history of every single cryptocurrency).
As a result, the above estimate will be on the low end even with Bitcoin prices increasing, so in reality you will be looking at longer than 8 months to make your money back. On top of that you have the opportunity cost of losing out on Bitcoin's price increase, that this year around would've equalled a break-even period of less than two months average, which is four times higher than the generous estimate of 8 months on the miner.
The one and only benefit that a miner offers over buying Bitcoin directly is the fact that it could potentially be resold and thus serve as a hedge. This however, is only viable in the event that Bitcoin remains popular, in which case you'll profit significantly more by just holding the coins.
In the event that Bitcoin decreases in popularity, not only your profits will go down by mining, but the resale value will decrease significantly as well because ASICs are completely useless for anything else.
In anyway, the point that I've repeatedly made remains. Unless you're a hobby nerd and want to try out mining for fun, or have a significant amount of wealth invested in crypto that you want hedged against the high volatility
and have competitive electricty prices (sub 5 cents because the giant farms will drive the profits down into this range) it makes no sense to buy ASICs to mine Bitcoin.
And in the case of a hobby miner you're better of with GPUs due to the ease of resale in case of crypto going south.
Sorry for taking a dump on your lawn, since you're clearly into mining. But it just simply makes no sense for low net worth individuals from a strictly economic perspective.
P.S. This is calculated at the $7530 price, only a month ago the profit would've been around $8 per day, equating to a break-even period of at least 14 months before adjusting for changes in hash rate. Pretty fucking shitty ROI for a crypto investment.
P.P.S. Complaining about people "sitting high and mighty" immediately invalidates all of your posts. Shows that you can't argue or reason without getting emotional or personal. I recommend working on that.
